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Anxious about weaker regulations for banks

More borrowers of student loans in the city

More borrowers of student loans in the city are delinquent than those past due on payments for mortgage, car loans or credit cards, according to new data from the Federal Reserve Bank of New York released. Credit: iStock

I am stunned that the Federal Reserve is talking about allowing banks to take more risks [“Fed proposes easing limits on bank risk-taking,” News, May 31].

When added together with the administration’s recent watering down of the already flawed Dodd-Frank law, this certainly begs the question, What could possibly go wrong?

The answer is quite simply a new and greater recession, bigger and better than 2008. Does anyone in this administration remember 2008 and what it did to Main Street?

Perhaps a better question is does anyone care? Remember that businessman Donald Trump then referred to the downturn as a “buying opportunity,” and his Treasury secretary made a fortune foreclosing on homeowners.

Wall Street must be breaking out the bubbly — the 1 percent celebrating new buying opportunities.

The rest of us had better batten down the hatches and prepare for the coming storm.

Joe Squerciati,

Hicksville

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